B. Riley Financial (NASDAQ:RILY) Upgraded at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen upgraded shares of B. Riley Financial (NASDAQ:RILY – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of B. Riley Financial in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.
View Our Latest Analysis on B. Riley Financial
B. Riley Financial Stock Down 1.1%
Shares of RILY stock opened at $8.27 on Friday. B. Riley Financial has a fifty-two week low of $2.67 and a fifty-two week high of $10.97. The firm’s 50 day moving average price is $6.04 and its two-hundred day moving average price is $5.76. The stock has a market cap of $253.06 million, a price-to-earnings ratio of 1.17 and a beta of 1.27.
Hedge Funds Weigh In On B. Riley Financial
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RILY. Simon Quick Advisors LLC acquired a new position in shares of B. Riley Financial in the second quarter worth about $48,000. Bank of America Corp DE grew its stake in B. Riley Financial by 237.2% during the 3rd quarter. Bank of America Corp DE now owns 6,963 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 4,898 shares in the last quarter. Brooklyn Investment Group increased its holdings in B. Riley Financial by 237.4% during the 3rd quarter. Brooklyn Investment Group now owns 30,792 shares of the asset manager’s stock worth $184,000 after purchasing an additional 21,665 shares during the last quarter. Cresset Asset Management LLC acquired a new position in shares of B. Riley Financial in the 3rd quarter valued at approximately $79,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of B. Riley Financial in the 2nd quarter valued at approximately $154,000. 50.20% of the stock is owned by hedge funds and other institutional investors.
B. Riley Financial Company Profile
B. Riley Financial, Inc, headquartered in Los Angeles, California, is a diversified financial services company offering a broad range of advisory and investment solutions to individual, corporate and institutional clients. Since its founding in 1997 by Bryant E. Riley, the firm has expanded its capabilities across two primary segments: financial solutions and operations solutions. Its financial solutions segment provides investment banking services, equity research, merger and acquisition advisory, corporate finance, restructuring advisory and private capital solutions.
In addition to traditional investment banking, B.